The UAE’s position as a tourist superpower would be boosted by Tratok, a Dubai-based blockchain-powered token. This development was on 30 July.
Tratok highlighted that the competitive edge would be provided by increasing profitability and cutting costs. The blockchain token firm emphasized that with the elimination of fraud, huge commissions, and transaction costs, much productivity gain is rendered. Tratok stated that it creates an ecosystem that can give service providers up to 30% more revenue. Service providers can also take back control of their inventory.
Mohammed Altajir, Tratok’s Custodian expressed –
“The public is becoming increasingly aware of the benefits of blockchain technology. In an industry with ever-increasing competition and tighter margins, service providers are willing to embrace a solution that boosts revenue while exposing them to the new generation of tourists with no commitment and minimal risk. It is the future.”
Tratok further added that consumers would also gain from lower costs, transparent pricing, verified reviews, and a global rewards program. Tratok suggested that cryptocurrencies were often associated with fraud, lack of transparency and sharp volatility. Tratok set itself distinct as a visible example of practical benefits blockchain technology could provide. Tratok leverages blockchain technology to create a novel travel and tourism ecosystem.
Tratok retained the discussion noting other cryptocurrencies had raised millions of dollars in public funding but had delivered less. Tratok, however, is a token that addresses real issues and challenges in the 8.3 trillion U.S. dollars tourism sector. Tratok expressed that this privately funded disruptor was led by a team of world-renowned professionals and specialists. Tratok asserted to take inspiration from the Emirate’s leadership to create the ideal smart city.
A report by Emirate News Agency highlighted the bonding between the United Arab Emirates (UAE) and Saudi Arabia to collaborate on key partnerships including a cross-border digital currency. The report introduced the Executive Committee of the Saudi-Emirati Coordination Council by citing that 16 delegates from both countries met in Abu Dhabi to track the progress of joint initiatives.
Tratok summarized that it had already enjoyed widespread public adoption. The blockchain token firm noted that international supporters and holders measure in the tens of thousands. Tratok conveyed that it has access to liquidity markets in excess of 300 million U.S. dollars. Tratok noted the distinction that unlike other startups, Tratok has given to the public. Tratok expressed its charitable arm which provides travel opportunities to those from less privileged backgrounds.